Question
Valerie Vamp as an individual provides personal service and obtains commission as a designer of exclusive leather garments for export has the following plant on
Valerie Vamp as an individual provides personal service and obtains commission as a designer of exclusive leather garments for export has the following plant on hand at 1st of July of the current income year.
Item
Cost Price
Opening Adjustable Value
Tax Depreciation Rate
Leather Garment Machine A
20,000
17,400
20% DV
Valarie sold Leather Garment Machine A on 30 September of the current income year for $15,000.
The balancing adjustment on sale will be:
Group of answer choices
Valerie Vamp as an individual provides personal service and obtains commission as a designer of exclusive leather garments for export has the following plant on hand at 1st of July of the current income year.
Item
Cost Price
Opening Adjustable Value
Tax Depreciation Rate
Leather Garment Machine A
20,000
17,400
20% DV
Valarie sold Leather Garment Machine A on 30 September of the current income year for $15,000.
The balancing adjustment on sale will be:
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Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
5th edition
9780470418239, 470239808, 9780470239803, 470418230, 978-1118128169
